India’s foreign exchange reserves fell by $1.877 billion to $686.227 billion for the week ended November 28, the
Reserve Bank of India (RBI) said on Friday. The decline comes after a sharper $4.472 billion drop in the previous reporting week, when overall reserves slipped to $688.104 billion, PTI reported.
According to RBI data, foreign currency assets (FCAs) — the largest component of the reserves — fell by $3.569 billion to $557.031 billion. FCAs, expressed in dollar terms, factor in the impact of movements in non-US currencies such as the euro, pound and yen.
Gold reserves, however, recorded an increase of $1.613 billion, rising to $105.795 billion during the week.
Special Drawing Rights (SDRs) rose by $63 million to $18.628 billion, while India’s reserve position with the International Monetary Fund (IMF) inched up $16 million to $4.772 billion, the RBI said.
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